Britain’s looming departure from the European Union has led nearly half of big companies from the rest of the bloc to cut investment in the country. German companies, especially, think Brexit is bad for business. Aircraft maker Airbus plans to reconsider its long-term position. This spells uncertainty for thousands of British jobs.

A disorderly Brexit could have disastrous consequences for Britain. Britons voted on June 23, 2016, to leave the EU. Most companies in France, Germany, Sweden, Ireland, Spain and the Netherlands want a better trading relationship with Britain after it leaves the EU in early 2019. They feel trade is more important than teaching Britain a lesson for leaving the EU. Two thirds want a free trade deal while 45 per cent are in favor of a customs union.

Business leaders feel they were not properly consulted, or their views taken into account, by the EU negotiating team as it tries to hammer out a post-Brexit trade deal. However, Britain is confident of getting a good deal ensuring trade is as free and frictionless as possible. Brexit could be a sort of blessing in disguise for the British textile industry. The exit of UK from the European Union has resulted in a depreciation of the value of the sterling. This in turn has rendered UK’s textile and garment exports much more competitive for the export market.